The growing demand for casting in the automobile sector, stringent emission norms, and increasing energy efficiency requirements in vehicles are driving the need for the market.
Sand Casting Market Size – USD 144.38 Billion in 2021, Growth - CAGR of 5.3%, Trends – High demand from developing nations.
-The global Sand Casting Market is forecast to reach USD 230.19 Billion by 2030, according to a new report by Reports and Data. The market is witnessing a surge in demand owing to the rising prevalence of the emission norms encouraging the use of the Sand casting process, and increasing demand in the automobile sector. Moreover, the increasing trend of lightweight vehicles is fostering the market's demand. However, the high capital required for the setup is hampering the market's demand.
A rise in the trend in urbanization is a critical factor in the growth of the housing and infrastructure sectors. First-time homebuyers are encouraged and funded to cause the development of the building design industry. Governments in various countries provide opportunities and support to meet the housing needs of the increasing population.
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Top Companies: Dynacast Ltd., Ryobi Limited, Gibbs (Koch Enterprises Inc.), POSCO, CALMET, Hitachi Sands, MES Inc., Alcast Technologies, Arconic, and Uniabex, among others.
Further Key Finding from the Report Suggestion:
- Cast Iron segment accounted for the highest market share of 29.8% in 2019. A significant portion of the demand in this segment is projected to come from emerging markets, especially from the automotive, construction, and oil gas sectors.
- The automotive segment is growing at a higher CAGR of 5.3% owing to the initiatives taken by the government across the world focusing on stricter pollution fuel efficiency regulations resulting in a boost of demand for aluminum, the primary casting material in the automotive industry
- The growing use of lightweight properties casting on the account and the aesthetic appeal it offers drives demand for throwing in the construction market. Construction equipment machinery, heavy vehicles, curtain walling, door handles, windows, and roofing can be used in finished goods.
- Indiaand China are recording an increase in industrial output, which is, in turn, favoring the demand for Sand casting. The Asia Pacific acquired the highest share of 64.3% in 2019 in the market for Sand casting.
Consumers are placing a higher importance on sustainability and, as a result, are choosing items based on factors like circularity and carbon footprint. Furthermore, consumer concern about carbon emissions has prompted increased investment in renewable energy, energy efficiency, and transportation decarbonization. These developments have had considerable impact on chemical end sectors, particularly in the automobile and construction industries. COVID-19 has exacerbated the situation by lowering the automobile and construction industries (as well as many others) and disrupting current supply lines.
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The global Sand Casting Market is segmented into:
Material Type Outlook (Revenue, USD Billion; Volume, Kilo Tons; 2019 – 2030)
- Cast Iron
- Stainless Steel
Process Outlook (Revenue, USD Billion; Volume, Kilo Tons; 2019 – 2030)
- Sand Casting
- Die Casting
- Shell Mold Casting
- Gravity Casting
- Vacuum Casting
End-use Industry Outlook (Revenue, USD Billion; Volume, Kilo Tons; 2019 – 2030)
- Automotive Transportation
- Building Construction
- Equipment Machine
- Consumer Goods
- North America (U.S.A., Canada, Mexico)
- Europe (Italy, U.K., Germany, France, Rest of Europe)
- Asia Pacific (China, India, Japan, South Korea, Australia, Rest of APAC)
- Latin America (Chile, Brazil, Argentina, Peru, Rest of Latin America)
- Middle East Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
Key Questions Addressed in the Report:
- What are the dominating factors that are influencing the growth of the industry?
- In the forecast period, which market segment is expected to rise the most?
- What are the risks and challenges that the industry is facing?
- In the coming years, which area is projected to dominate the market?
- Who are the major players in the market?
- What kind of strategic business plans have they made?
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